SCHLEGEL LAW OFFICES, P.A. - Brevard County Bankruptcy Attorney and Family Law Attorney
Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Brevard County Bankruptcy Attorney, Melbourne Bankruptcy Attorney, Brevard County, Florida
What are some of the differences between Chapter 7 Bankruptcy and Chapter 13 Bankruptcy?
When filing for bankruptcy, individuals typically file under either Chapter 7 Bankruptcy (often referred to as "liquidation" or "straight" bankruptcy) or Chapter 13 Bankruptcy (often referred to as "wage earner" or "workout" bankruptcy).
Although Chapter 7 Bankruptcy and Chapter 13 Bankruptcy share many common features, there are many important differences between these chapters. When filing for bankruptcy, an experienced bankruptcy attorney can assist you in selecting the chapter that best meets your needs. Chapter 7 often does not require debtors to pay money to the Trustee. Debtors who are filing for bankruptcy under Chapter 7 often have property, which does not exceed the allowed exemptions (or does not exceed the exemptions by an amount sufficient to be worth the Trustee's time and expenses in administering the non-exempt property.) These bankruptcies are referred to as "no asset" Bankruptcies. The majority, but not all, of the Chapter 7 Bankruptcies are "no asset" Bankruptcies.
Do not wait any longer, if you are in need of a Brevard bankruptcy attorney for a Chapter 7 or a Chapter 13, please Contact Us today and start rebuilding your credit for the future. The initial consultation is free.
Ready for a Fresh Start in 2015? Contact attorney Gina Schlegel at Schlegel Law Offices today. Call us at (321) 872-6500 or fill out the form below and we will contact you.
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Contact Our Law Office in Melbourne, Brevard County, Florida, if you are in need information in filing for bankruptcy and wish for the assistance of a Bankruptcy attorney - Chapter 7 or Chapter 13. We proudly serve all of Brevard County including Viera, Suntree, Rockledge, Titusville, Port St. John, Palm Bay, Cocoa, Cocoa Beach, Mims, Melbourne Beach, Indialantic, Satellite Beach, Sebastian, West Melbourne, Port Malabar, and Port Canaveral.